The market moved up as expected
Now there is many diffrent possibilities
1. (blue) We are in wave i within wave 3 and should see a pullback
that should end above 1.65478, from where the market
should see more upside.
2. (brown) We are in a flat that should result in a five wave decline
that should retest the area near wave c low (1.6450)
and complete wave xx or wave ii within wave 5
and the rally higher.
3. (green) We are in a complex correction that should give us
at least three more waves to the downside and could extend
below the 1.6258 low before heading higher.
4. (black) We are in wave (c) in a triangle wave xx.
TRADING STRATEGY
Only a break above 1.682 signals that the correction is over.
Keep a close eye on the structure of the next move
to decide which scenario is coming in to play.
I will make an update as soon as the market has invalided
some of those possibilities.
In the meantime, you can follow all my demo trades at
www.myfxbook.com/mem.../tlkemmy/demo/854232
Good luck!
Now there is many diffrent possibilities
1. (blue) We are in wave i within wave 3 and should see a pullback
that should end above 1.65478, from where the market
should see more upside.
2. (brown) We are in a flat that should result in a five wave decline
that should retest the area near wave c low (1.6450)
and complete wave xx or wave ii within wave 5
and the rally higher.
3. (green) We are in a complex correction that should give us
at least three more waves to the downside and could extend
below the 1.6258 low before heading higher.
4. (black) We are in wave (c) in a triangle wave xx.
TRADING STRATEGY
Only a break above 1.682 signals that the correction is over.
Keep a close eye on the structure of the next move
to decide which scenario is coming in to play.
I will make an update as soon as the market has invalided
some of those possibilities.
In the meantime, you can follow all my demo trades at
www.myfxbook.com/mem.../tlkemmy/demo/854232
Good luck!
